EUR/JPY: Short-squeeze developing: by Sean Lee

It’s pretty hard to know which of these currencies we should be selling but in recent weeks the market has been overwhelmingly bearish on EUR/JPY. I’m also getting the sense that many big professional accounts are running short positions and that of course raises the spectre of a short-squeeze. There has been a lot of bad news for the EUR in recent sessions but no fresh lows, another sign that the market might be short enough.